Market and Local Wrap-up – March 2023

Welcome back to your market update reflecting on the month of February.

What’s new in 3217:

In big news, one of the four Commonwealth Games Villages for March 2026 will be held in Armstrong Creek! Built on the south side of Waurn Ponds train station and either side of Baanip Boulevard, the four villages will collectively hold approximately 7,000 people.

Piccadilly Events is hosting an upcoming Warralily Market on Saturday the 1st of April. Located at Mirambeena Park from 11am – 3pm, there will be plenty of stalls with homemade crafts and products from local businesses, as well as a great selection of food. Head down to grab a bite to eat with the family, you can even bring your dog too!

In other news, Mount Duneed Village is well and truly underway as construction commences in creating a retail commercial space that will be over approximately 6000m2. Including IGA, Saltwater Swim School, a Medical Centre, and takeaway pizza shop, this space is already over 75% leased with room for more businesses.

Keeping Up With Our Team:

February proved to be a massive month for celebrations within our team!

We congratulate the work anniversaries of Teegan (3 years), Deb (3 years), Jacob (2 years) and Britta (1 year). While we also celebrated the birthdays of Sam, Jayden, Amy and Callen.

The celebrations continued when our sales agent Luke Wallden was awarded suburb winner for Mount Duneed and Armstrong Creek in RateMyAgent ANZ’s Agent of the year awards! Armstrong Real Estate was also awarded top agency for Armstrong Creek, a great achievement for the entire team!

To wrap up the month some of the team headed to a GMHBA ‘After 5’ networking event with the Geelong Chamber of Commerce. It was amazing to catch up with locals from the Geelong region to hear about their careers while also viewing GMHBA’s new head office. A wonderful innovative space for their team to grow and expand into!

Sales Update:

Despite January’s rate rise, we still saw buyer confidence remain high, based on enquiries and open home attendees, with a number of new buyers attending our open homes. This has also been evident through a decrease in average days on market from 54 in January to 35 in February, compared to the market average of 57. Our team have received over 120 buyer enquiries for the month and saw over 76,000 property page views on realestate.com.au.

Our sales team continued their strong start to the new year, with 23 sales and an average of 130 buyers through open homes and private inspections for the month.

So, if you are considering selling, reach out to our team today. We would love to support you throughout your property journey.

Rental Update:

With an outstanding 41 properties leased over the month of February, we saw an increase in demand and enquiry and in turn a great result for our rental providers in a short month. We received over 1,777 enquiries, 615 applications and conducted 216 inspections.

This month we also welcomed Jayde Sanderson & Sarah Pinner to our property management team. Jayde has commenced in an assistant position, working behind the scenes to ensure our property management department runs smoothly. Sarah is welcomed as our new leasing agent and looks forward to assisting new renters find their ideal home.

If you are interested to know more about our property management services, we would love to welcome you into our office for a coffee.

Land Update:

The month of February saw several titled lots and untitled lots come to the market. While the buyer enquiry has slightly decreased compared to January, we are still seeing buyers that are ready to purchase and securing the block of their choice. This was demonstrated with 3 blocks selling and 4 going under contract with a further 2 offers being accepted.

Enquiries are coming from a wide range of demographics with plenty of investors, first home buyers and up-sizers in the market. Several builders are also enquiring on behalf of clients.

Whether you are looking to purchase land for your first home or your dream home, feel free to reach out to our team today. We would love to be of assistance along your land journey.

Until Next Time…

While February was a shorter month that flew by, it proved to be a busy month for the market and our team! If you’re looking to buy, sell, rent or looking to grab a free market appraisal reach out to our team or pop into the office for a chat.

Located at 478 Torquay Road, Armstrong Creek we would love to know how we can assist you along your property journey in 2023!